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CEO Is Leaving Grundig,
Clouding Restructuring Plan

Grundig AG said Chief Executive Officer Pieter van der Wal will leave the company in eight weeks, plunging the troubled German electronics maker into further uncertainty.

A Grundig spokesman said Mr. van der Wal decided to resign because of opposition from the company's labor unions, including the powerful IG Metall union. Mr. van der Wal was appointed head of the maker of television sets and audio equipment a year ago, at the instigation of parent company Philips Electronics NV. But Philips, which owns 32% of Grundig and...